The housing market has become so tight in the past year that some prospective buyers are making offers on homes they’ve never seen in person; according to a recent article at CNBC.com.
"For home buyers, this is shaping up to be one of the most difficult years in recent memory," says Ralph McLaughlin, chief economist of Veritas Urbis Economics, which studies the housing market.
Record low housing supplies are driving up prices and curbing sales, especially for Millennials looking to buy starter homes. People have become so desperate to buy a new home that some house hunters are forgoing inspections, and even making offers without even seeing the homes. And many are willing to pay even more than the asking price.
Homeowners: now may be the time to think about selling your home and making a substantial profit.
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